15-year retirement application window opens Jan. 14

Dec. 20, 2013 - 06:00AM
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Airmen with more than 15 but less than 20 years of service who want to apply for early retirement will have a nearly three-month window to submit their paperwork beginning Jan. 14, according to two Dec. 17 memos obtained by Air Force Times.

The Air Force will offer temporary early retirement authority — also known as TERA, or 15-year retirements — to officers and enlisted airmen in certain non-critical According to the memos, eligible airmen will receive an e-mail on or about Dec. 19 telling them about their TERA options. Captains, majors and lieutenant colonels will be eligible for TERA, as will be staff sergeants, technical sergeants, master sergeants and senior master sergeants.

Those airmen may apply for early retirement between Jan. 14 and March 26. If they are accepted, they will retire Aug. 1.

Airmen who have at least 15 but less than 19 years of service as of July 31 must be in targeted career fields and year groups to be eligible for early retirement, the memos said, but did not say which jobs and year groups. Airmen with 19 years of service can apply for early retirement regardless of career field.

Under TERA, airmen receive the same retirement benefits as someone who retires normally at 20 years, except their retired pay is reduced by 1/12 of a percent for each month of early retirement, or 1 percent for each full year.